Pure Energy Minerals Gets Federal Permit for Next Phase of Drilling in Nevada

Pure Energy Minerals (TSXV:PE) reported that its project operator, GeoXplor, has received the necessary permits for the next phase of drilling at its Clayton Valley South project in Nevada.
As quoted in the press release:

This amendment permits the Company to drill one new well that will target potential lithium brine bearing formations identified from previous phases of exploration. The Company expects to drill the well to a depth of up to 500 metres. With cash on hand and the ongoing exercise of warrants, the Company is fully funded for this phase of exploration drilling to further delineate and expand upon its inferred mineral resource, reported in July of 2015 (See Company news release dated July 28, 2015).

Pure Energy Minerals CEO, Patrick Highsmith, said:

We are pleased to have amended permits in hand for the next phase of drilling at Clayton Valley. We have begun mobilizing equipment and drill crews to the project in anticipation of commencing drilling activities in the coming days. We look forward not only to integrating the results from this new well into our existing lithium brine resource, but also to use the well as part of a monitoring network for longer-term pumping tests in the near future. This expanded drill program and the upcoming pumping tests are key building blocks of the PEA that we plan to deliver this summer.

Click here for the full press release.